Real Estate projects that are ongoing and have not received a completion certificate, on the date of commencement of the Act, the promoter shall, within a period of 3 months from the date of commencement.

There is a large chunk of unsold inventory across the locations and available with almost all the builders. They would in all likelihood be trying to offload them and even offer a reduced rate along with other freebies. Buyers showing renewed interest in this market have to be cautious as the chances of falling into a trap could be high.

As per rule 8 of said rules, every real estate agent required to register as per Act shall make an application in writing to the Authority in Form ‘G’, in triplicate, until the application procedure is made web based.

Real Estate projects that are ongoing and have not received a completion certificate, on the date of commencement of the Act, the promoter shall, within a period of 3 months from date of commencement, shall make application in triplicate for registration of the project.

As per section 3 of The Real Estate (Regulation and Development) Act, 2016 (here-in-after referred as RERA), which has come into force from 1st May, 2016 and has been notified to be commenced w.e.f. from 1st May 2017.

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